"In connection with the transactions, Citi will suspend dividends on its preferred shares. As a result, the common stock dividend also will be suspended. The company will continue to pay the distribution on its Trust Preferred Securities and Enhanced Trust Preferred Securities at the current rates."
There has been no announcement that dividends on Trust Preferreds have been suspended.
I saw a recent article last week on Yahoo Finance about suspended Citi preferreds, but cannot find anything but the old suspension news from March-April now. Still a distinct possiblity that Citi could suspend even the Trust Preferreds due to worsening economy and C's cash flow. Citi has always been a 'go-go' bank on the edge, playing with 'financial fire'.
The reason that the Citi Preferreds were in the news in the last few weeks is that the exchange to common stock finally occurred. However, the announcement that they were going to convert preferreds to common, as well as suspending dividends, happened in February.
Using Yahoo Finance as your 'source' for news has a significant shortcoming for Citi - Yahoo Finance apparently has storage limits, and there are no articles on Citi before April 30, which would completely miss the original announcement. Google provides several articles from the time of the original announcement. Here is a sampling:
Additionally, the Citi website has the press releases making the announcements.
Yahoo Finance is an inadequate source to use as the only source when doing research.
As far as suspending dividends on the trust preferreds - it is unlikely. Since the remaining government trust preferreds are junior in priority to the publicly available trust preferreds, Citi would have to suspend dividends on the government trust preferreds before suspending dividends on the publicly available ones.
So, yes, it could happen. But as long as the government has such a large investment in Citi, it's not likely.